The move followed the release of Britain's preliminary "flash" Purchasing Managers' Index, which jumped to 53.0 in February from 48.5 in January, above the 50 threshold for growth for the first time since July, and surpassing all forecasts in a Reuters poll of more than 20 economists, which had pointed to a reading of 49.0. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Graphic: World FX rates in 2020 Graphic: Trade-weighted sterling since Brexit vote ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Alun John, Editing by William Maclean)
LONDON, Feb 21 (Reuters) - The pound strengthened on
Tuesday after data showed an unexpected bounce in British
business activity, suggesting the economy may be sidestepping
the risk of recession.
The pound gained 0.5% against the dollar to $1.2094 , and also firmed against the euro, with the European
common currency dropping 0.72% to 88.17 pence .
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